Government Aims to Boost Rice Exports to $5 Billion by 2028, says Shahzad Malik
Published on: January 24, 2024.
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Pakistan’s Rice Export Potential: A Path to $5 Billion
Pakistan has the potential to become a major player in the global rice export market, with the capability to increase exports to $5 billion by 2028. Building on this success, the country aims to double its exports to $10 billion within the next 10 years. However, achieving these ambitious goals requires positioning Pakistan as a reliable source of rice supply with a consistent surplus production.
In 2002, Pakistan’s rice exports stood at around $462 million. Over the years, the country has made significant progress, with exports reaching $2.5 billion in 2023. There are hopes that exports will exceed $3 billion in the current calendar year. To continue this upward trajectory, Pakistan needs to leverage India’s ban on rice exports to its advantage. By meeting the international demand for rice, Pakistan can establish itself as a dependable source.
Shahzad Ali Malik, member of the Federal Export Advisory Council (non-textile) and Chairman of the Punjab Rice Research and Development Board, emphasizes the importance of hybridization of rice seeds to achieve surplus production. Pakistan has two main types of rice varieties: Basmati and non-Basmati. The IRRI type rice, grown in Sindh, was acquired from the International Rice Research Institute (IRRI) in the 1960s, and this old seed has not been replaced until 1990. Collaborating with Chinese counterparts, Guard Agriculture Research and Services introduced hybrid seeds, resulting in a doubling of yields for Sindh farmers. Yields increased from 45-50 maunds per acre to over 100 maunds per acre. This breakthrough not only strengthened farmers financially and alleviated poverty in rural areas but also boosted rice production from 9 million tons in 2022 to 9.3 million tons in 2023.
To tap into the full potential of Pakistan’s rice industry, it is crucial to focus on hybridization and continuous technological advancements. This will ensure increased productivity and higher yields, making Pakistan a prominent player in the global rice market. Moreover, it is essential to maintain a steady supply of high-quality rice to build trust among international buyers.
Pakistan’s rice exporters play a vital role in achieving these goals. Companies like the Pakistan Rice Exporters Association (PREA) and Pakistani Rice Mills Association (PRMA) link the country’s rice suppliers to the global market. To facilitate exports, these associations collaborate with major rice importers and distributors worldwide, ensuring a smooth and efficient supply chain.
In conclusion, Pakistan has the potential to significantly increase its rice exports, aiming for $5 billion by 2028 and $10 billion in the next decade. By positioning itself as a reliable source of rice supply, taking advantage of India’s export ban, and embracing hybridization and technological advancements, Pakistan can become a leading player in the global rice market.
Source: [Business Recorder](https://www.brecorder.com)
